Why Outsourcing During Tax Season Isn’t A Cop Out

Many harried CPAs have considered outsourcing some of their work during busy times of the year like tax season, or at the very least, have wished that there was some way of lightening the intensity of their workload at certain times of the year.

However, one of the main reasons why so many CPAs and accounting professionals continue to struggle with high workloads, is because they believe that by taking advantage of tax preparation outsourcing, they are failing.

But, quite the opposite is true.

Outsourcing as a two-pronged approach

On the one hand, CPAs and accounting professionals can reduce their workload through outsourcing, by eliminating tedious, time consuming tasks such as general bookkeeping. But on the other hand, they also get more time to work on efficiency and productivity, and to focus on their core activities, or more strategic tasks.

And, when accountants have more time, they are less likely to make mistakes or let their clients down in any way.

Here are just some of the ways in which outsourcing tax preparation can assist CPAs:

By saving them time

Tax returns must be filed accurately and on time; accounting professionals face a lot of pressure during tax season.

Outsourced tax preparation can ensure that your clients are satisfied, your CPAs aren’t burnt out, and that your company saves money, too. And, particularly when you outsource to countries like India, favorable time zone differences mean that much of the work can be completed while your own team are tucked up asleep in bed!

By addressing the global shortage of talent

Still reeling from the effects of a critical shortage of accounting talent throughout the U.S., many CPA firms simply can’t find enough qualified accountants to help them manage their workload.

With so many outsourcing opportunities available, CPA firms should have no problem finding entire teams of qualified tax and accounting professionals to help them handle the intensity of tax season. Not only that, but outsourcing eliminates a lot of the costs associated with hiring permanent or temporary employees, such as training, salary, overheads and benefits.

By helping them meet deadlines

With their extensive and up-to-date knowledge of taxes and the regulations associated with them, reputable outsourcing partners have the ability to handle tax preparation work accurately and efficiently. And if they don’t, they’re often the ones liable for penalties, and not you.

By harnessing new technology

Tax files can be returned in even swifter time with the help of technological advancements such as automation. But, does your firm have the funds to invest in such technology, let alone train its employees how to use it?

When a CPA firm chooses to work with an outsourced tax preparation firm, they get to take advantage of all that tech, without any of the investment or training, as do their clients. Technologies such as automation can save time and reduce errors significantly when in the right hands.

All in all, tax return preparation outsourcing can be a huge help for CPA firms struggling to meet demand during busy times of the year such as tax season, and should never be perceived as a cop-out. In fact, it’s more of a cop-out not to use it, especially when you consider how it can help firms keep their clients satisfied, while protecting their employees from the very real risks posed by burnout.